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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Total SE    FP   FR0000120271

TOTAL SE

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Total : unit signs deal with Singapore LNG Corp for solar energy system

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09/15/2020 | 10:11pm EDT

A subsidiary of France's Total and Singapore LNG Corp (SLNG) have signed a deal for a rooftop solar power system at the Singapore liquefied natural gas (LNG) terminal, the companies said on Wednesday.

Total Solar Distributed Generation, a wholly-owned subsidiary of Total, will finance, build and operate the 600 kilowatts peak (kWp) system, which will be installed on the rooftops of several buildings in the terminal, they said. The terminal is owned and operated by SLNG.

The installation of solar panels is expected to be completed by the fourth quarter of this year, they said in a statement.

The system will generate around 800 megawatt hours (MWh) of renewable energy and has the potential to avoid an estimated 300 tonnes of carbon dioxide emissions a year, the companies said.

SLNG is also exploring ways to speed up the use of LNG and other green energy alternatives, the company's chief executive officer, Tan Soo Koong, said.

"For one, we are looking into collaborations to develop new infrastructure in Singapore to promote the use of LNG as a cleaner marine fuel," he said.

"For another, we are working with various partners to develop technologies related to the importation, transportation and storage of hydrogen."

Singapore, one of the sunniest cities in the world, generates about 95% of its power from imported natural gas with solar energy being its most viable renewable energy option.

It aims to achieve a solar target of at least two gigawatts of peak power by 2030, up from the 260 megawatt-peak in the second quarter of 2019.

By Jessica Jaganathan

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Financials (USD)
Sales 2020 119 B - -
Net income 2020 -6 356 M - -
Net Debt 2020 38 799 M - -
P/E ratio 2020 -12,3x
Yield 2020 10,7%
Capitalization 76 298 M 88 874 M -
EV / Sales 2020 0,97x
EV / Sales 2021 0,80x
Nbr of Employees 107 776
Free-Float 92,4%
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Mean consensus BUY
Number of Analysts 24
Average target price 49,88 $
Last Close Price 29,03 $
Spread / Highest target 133%
Spread / Average Target 71,8%
Spread / Lowest Target 12,6%
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Managers
NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Jean-Pierre Gerard Claude Sbraire Chief Financial Officer
Marie-Noelle Semeria Group Chief Technology Officer & Senior VP
Patrick Artus Independent Director
Marie-Christine Coisne-Roquette Lead Independent Director
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